Principal Financial Group Inc. Buys 423,629 Shares of Amkor Technology, Inc. $AMKR

Principal Financial Group Inc. lifted its stake in Amkor Technology, Inc. (NASDAQ:AMKR) by 19.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,622,744 shares of the semiconductor company’s stock after purchasing an additional 423,629 shares during the period. Principal Financial Group Inc. owned 1.06% of Amkor Technology worth $118,107,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of AMKR. Diversify Wealth Management LLC bought a new position in Amkor Technology in the first quarter worth about $134,000. Fifth Third Bancorp boosted its position in Amkor Technology by 2,046.0% during the 1st quarter. Fifth Third Bancorp now owns 32,856 shares of the semiconductor company’s stock valued at $1,479,000 after acquiring an additional 31,325 shares in the last quarter. Candriam S.C.A. grew its holdings in shares of Amkor Technology by 35.5% during the 1st quarter. Candriam S.C.A. now owns 7,332 shares of the semiconductor company’s stock worth $330,000 after acquiring an additional 1,922 shares during the period. Capstone Capital Management Ltd purchased a new position in shares of Amkor Technology during the 1st quarter worth approximately $1,612,000. Finally, Oregon Public Employees Retirement Fund raised its position in shares of Amkor Technology by 3.1% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 23,394 shares of the semiconductor company’s stock worth $1,053,000 after acquiring an additional 700 shares in the last quarter. Institutional investors own 42.76% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on AMKR. Melius Research upgraded Amkor Technology from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a research report on Monday, April 6th. Morgan Stanley increased their price objective on Amkor Technology from $45.00 to $69.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 28th. The Goldman Sachs Group boosted their target price on shares of Amkor Technology from $43.00 to $65.00 and gave the company a “neutral” rating in a report on Tuesday, April 28th. Needham & Company LLC upped their target price on shares of Amkor Technology from $65.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, April 28th. Finally, B. Riley Financial increased their price target on shares of Amkor Technology from $70.00 to $90.00 and gave the stock a “neutral” rating in a research note on Thursday, June 25th. Four investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, Amkor Technology has an average rating of “Hold” and a consensus price target of $69.88.

Insider Buying and Selling at Amkor Technology

In other Amkor Technology news, Director Gil C. Tily sold 15,000 shares of Amkor Technology stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $77.30, for a total value of $1,159,500.00. Following the completion of the transaction, the director directly owned 108,806 shares of the company’s stock, valued at approximately $8,410,703.80. The trade was a 12.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Winston J. Churchill sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $78.20, for a total transaction of $391,000.00. Following the completion of the transaction, the director owned 28,781 shares in the company, valued at approximately $2,250,674.20. This represents a 14.80% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 114,000 shares of company stock worth $8,631,450 in the last 90 days. Insiders own 26.40% of the company’s stock.

Amkor Technology Stock Down 3.6%

Shares of NASDAQ:AMKR opened at $67.64 on Thursday. The company has a current ratio of 2.01, a quick ratio of 1.74 and a debt-to-equity ratio of 0.28. The stock has a fifty day simple moving average of $74.63 and a two-hundred day simple moving average of $59.62. Amkor Technology, Inc. has a 12-month low of $20.59 and a 12-month high of $96.68. The stock has a market capitalization of $16.77 billion, a price-to-earnings ratio of 38.65 and a beta of 2.20.

Amkor Technology (NASDAQ:AMKR) last released its earnings results on Monday, April 27th. The semiconductor company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.10. The firm had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.63 billion. Amkor Technology had a return on equity of 9.88% and a net margin of 6.17%.The company’s quarterly revenue was up 27.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.09 earnings per share. On average, research analysts anticipate that Amkor Technology, Inc. will post 2.08 earnings per share for the current fiscal year.

Amkor Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 23rd. Shareholders of record on Wednesday, June 3rd were paid a dividend of $0.0835 per share. This represents a $0.33 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date was Wednesday, June 3rd. Amkor Technology’s dividend payout ratio (DPR) is currently 18.86%.

About Amkor Technology

Amkor Technology, Inc (NASDAQ:AMKR) is a leading provider of outsourced semiconductor packaging and test (OSAT) services, supporting integrated device manufacturers and semiconductor foundries worldwide. The company offers a broad range of advanced packaging solutions, including wafer bumping, flip chip, system-in-package and ball grid array technologies, designed to meet the performance, power and form-factor demands of applications across consumer electronics, automotive, communications and industrial markets.

In addition to packaging, Amkor delivers comprehensive test services such as wafer probing, final test, system-level test and digital, analog and mixed-signal testing, enabling customers to accelerate time-to-market and reduce total costs.